Table 2.2 -Julianne Runs a Business and Needs to Decide How Many

question 62

Multiple Choice

Table 2.2
-Julianne runs a business and needs to decide how many hours to stay open.Table 2.2 illustrates her marginal costs of staying open for each additional hour.Suppose that Julianne's marginal benefit of staying open per hour is $20.If she is following the marginal principle,how many hours should Julianne stay open?

• A) 4 hours
• B) 5 hours
• C) 6 hours
• D) 7 hours

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Definitions:

Market Testing

The process of evaluating the viability of a new product or service through trials in specified market areas.

Business Analysis

The practice of identifying business needs and determining solutions to business problems, often involving assessment of processes and systems.

Environmental Scanning

The process of collecting, scrutinizing, and utilizing information about events, trends, and relationships in an organization's external environment.

New-product Ideas

Concepts or proposals for new goods or services that a company can potentially develop and offer to the market.